Acc 200

Lesson Breakdown

Lesson & CD Lesson/ (time) HW Topics Text

(Quiz) Problems Chap:
Pages

1a #1 (Beginning through None -What is a business?-Kinds 1: 1-12

“General Purpose of businesses -Financing a 12: 587-
Financial Stmts.”) 49* business, debt vs. equity 588
minutes financing -Financial vs.
*Excludes time to review managerial accounting
Hints and Walk Throughs -General purpose financial
statements

1b #1 (“Brief Review” #1, 2 ,3 -Useful business 1: 13-21

Quiz 1 through End) 97 minutes moderate* information -Comparable 2: 50-51
(cover 1a *indicates and credible -The role of
GAAP, SEC, FASB, 6: 272-277
and 1b) degree of
difficulty AICPA, IRS -CPA's and 12: 587-
and time external audits 590
required -Accounting education and
careers -Legal forms of
business ownership:
proprietorship, partnership,
corporation -Corporate
governance

2a #2 (Beginning through #4, 5 (light) -The general purpose 2: 32-35

Quiz 2 Prob.#5) 78 minutes financial statements -The 2: 40-41
Balance Sheet -Assets,
liabilities, owners' equity
defined -The Income
Statement -Revenues and
expenses defined

2b #2 (“Expanded Equation” #6,7,8 -The expanded accounting 2: 32-49

Quiz 3 through End) 68 minutes (heavy) equation -Relationship of
financial statements -The
Statement of Cash Flows
-Financial statement
formats
 3a #3 (Beginning through #9 -Asset Valuation 2: 51-54
Quiz 4 Prob. #9) 85 minutes (moderate) -Historical Cost Principle 3: 82-103
-Monetary Measurement
Concept -Separate Entity
Concept -First steps in an
accounting system
-Recording
transactions/journal entries

3b #3 (“Posting to the General #10,11,12 -Steps in an accounting 3: 104-112

Quiz 5 Ledger” through End) 28 (heavy) system, continued -Posting 2: 35-39
minutes to the general ledger -Trial
balance: What and Why? 2: 40-44
-Preparing the financial
statements

4a #4 (Beginning through #13,14, 15 -Steps in an accounting 4: 140-144

Quiz 6 Prob. #15) 69 minutes (moderate) system, continued 4: 144-151
-Accrual vs. cash basis
accounting -Revenue
recognition and matching
principles -Adjusting for
prepaid expenses
-adjusting for unearned
revenues

4b #4 (“Unrecorded Expenses #16,17,18, -Adjusting for unrecorded 4: 144-151

Quiz 7 and Revenues” through the 19 (heavy) expenses and revenues 4: 157-160
End) 81 minutes -Closing the books
-Computerized accounting 3: 111-112
systems -Account analysis

Financial Financial Practice Set (all) Complete -Role of subsidiary ledgers See the
Practice 117 minutes Practice Set and special journals in an Financial
Set (Very accounting system Practice
Heavy) -Comprehensive review of Set
accounting system

5a #5 (Beginning through #20 (light) -Complicating revenue 7: 298-304

Quiz 8 Prob. #20) 61 minutes transactions -Accounting 2: 40-43
for sales discounts
-Accounting for sales
returns and allowances
-Gross margin and %
markup defined

5b #5 (“Uncollectible A/R #21,22,23, -Accounting for 7: 304-311

Quiz 9 Overview” through the 24 (heavy) uncollectible accounts
End) 75 minutes receivable -Accounting
credit card receipts
 6a #6 (Beginning through #25,26 Perpetual inventory (Exclude
Quiz 10 Prob. #26) 69 minutes (light) accounting -Purchase periodic
discounts and returns inventory
-Perpetual inventory cost approach)
flows: specific 8: 357-362
identification, LIFO,
FIFO, and moving 8: 365-370
weighted average 8: 376-377

6b #6 (“Effects of Inflation” #27,28 Perpetual LIFO, FIFO and (Exclude

Quiz 11 through the End) 48 (heavy) moving weighted average periodic
minutes applications -The effects of inventory
inflation and deflation on approach)
results -Physical inventory: 8:362-364
What and Why?
8: 365-370
8: 376-377

7 #7 (All) 85 minutes #29,30,31 Multi-step formatted 9: 414-415

Quiz 12 (moderate) income statement -Payroll 9: 422
taxes -Sales taxes -Other
operating expenses 9: 433
-Internal Controls 6: 256-264
6: 270-271
7: 303-304

8a #8 (Beginning through #32 exclude Long-term or operating 9: 428-430

Quiz 13 “Subsidiary Ledger for part d (light) assets -Accounting for 10: 464-
Equipment”) 59 minutes acquisition -Accounting 465
Also do Prob. 32, parts for depreciation, -Straight-
line and units of 10: 470-
a,b,c and e at this time. 472
Part d is to be done with production methods of
8b. depreciation -Partial-year 10: 474-
depreciation 476
 8b #8 (“Repairs, #32 part d, Long-term assets, 10: 476-
Quiz 14 Maintenance, 33, 34 (light) continued -Accounting for 477
Improvements” through repairs, maintenance and 10: 480-
the End) 67 minutes improvements 482
-Accounting for sale or
disposal -Accounting for 10: 482-
intangible assets and 486
goodwill -Accounting for
natural resources

9a #9 (Beginning to Prob. #35, 36 Long-term liabilities 11: 532-

Quiz 15 #36) 59 minutes (moderate) -Accounting for notes 535
payable -Accounting for
mortgage notes payable

9b #9 (Bonds Payable to the #37, 38,39, Long-term liabilities, 11: 538-

Quiz 16 End) 91 minutes 40, 41 continued -Bonds and 540
(heavy) common bond terminology 11: 540-
-Debt vs. equity financing 541 (bonds
-Characteristics of issued at
common and preferred face value
stock -Accounting for the only)
issuance of common and
preferred stock 12: 587-
-Calculating preferred 593
dividend rights 12: 597-
-Accounting for dividend 601
declarations and payments

10a #10 (Beginning through #42, 43 Introduction to financial 5: 204-213

Quiz 17 “Days Sales in Inventory: (moderate) analysis -Measures of 7: 311-312
Analysis”) 99 minutes liquidity: current and acid-
test (quick) ratios 8: 370-371
Also do Prob. #42 and #43
at this time -Measures of leverage: 11: 546-
debt and debt/equity ratios 547
-Pros and cons of leverage
-Calculating % increases
from year to year
-Measures of management:
A/R and inventory
turnover and Days sales in
A/R and Inventory

10b #10 (“Measure of # 44, 45 Measure of profitability: 5: 208-209

No Quiz Profitability” to the End) (heavy) EPS -Measures of stock 5: 212-214
80 minutes value: book value per
share and P/E ratio 9: 430-433
Exclude Prob. #42 and #43
-Forecasting earnings:
vertical analysis (common-
size income statements)
 11 #11 (All) 44 minutes #46, 47 Financial vs. managerial 15:
Quiz 18 (light) accounting -Cost 756,758
terminology: product vs. 15: 764-
period costs for 767
merchandising and
manufacturing companies 17: 873-
-Stages of manufacturing 874
inventory: raw materials, 21: 1152-
WIP, finished goods 1154

12a #12 (Beginning through #48, 49 Product cost accumulation 17: 868-
Quiz 19 “Job Order Cost Example: (light) methods for a 876
Flow of Costs”) 33 manufacturing business:
minutes process cost vs. job order
Also do Prob. #49 at this cost systems -Job order
time costing: job cost record
and the flow of costs

12b #12 (“Basic Journal #50,51, 52 Job order cost system's 17: 876-
Quiz 20 Entries” to the End) 89 (very heavy) basic journal entries 885
minutes -Utilization of a job cost
Exclude Prob. #49 record -Complications in
accounting for
manufacturing overhead
-Predetermined overhead
rates and application of
overhead to WIP

13a #13 (Beginning through #53, 54 Cost behaviors with 16: 796-
Quiz 21 “Mixed Cost Analysis: (moderate) changing volume -Variable 808
High-Low Method”) 74 costs, fixed costs, stepped
minutes costs and mixed costs
Also do Probs. #53 and defined -Relevant range
#54 at this time implications in analysis

13b #13 (“Approaches to CVP #55,56,57, Approaches to CVP 16: 809-

Quiz 22 Analysis” to the End) 58 58 (heavy) analysis: graphical and 823
minutes equational -Determining
Exclude Probs. #53 and profit or loss with
#54 changing volume
-Contribution margin
defined -Expanded CVP
equation and applications

14a #14 (Beginning through None Business planning and 19: 1008-
Quiz 23 “Sequencing of a Budget”) budgeting overview -The 1014
53 minutes steps in preparing an
operating budget
 14b #14 (“Example: Operating #59,60,61, Preparing an operating 19: 1014-
Quiz 24 Budget” to the End) 72 62, 63 (very budget for a manufacturing 1024
minutes heavy) business: sales, production, 19: 1036-
direct material purchases, 1038
direct labor and cash flow
budgets -Pro-forma
financial statements

15a #15 (Beginning through #67 Non-routine business 15: 769-

Quiz 25 “Make vs. Buy”) 79 (moderate) decisions -Relevant costs 773
minutes and revenues in decision 23: 1273-
Also do Prob. #67 making -Make vs. Buy 1286
decision example

15b #15 (“Discontinue vs. #64,65,66, Discontinue or add a 23: 1287-

No Quiz Add” to the End) 70 68 (very product line -Pricing a 1296
minutes heavy) special order -Selecting
Exclude Prob. #67 product emphasis given
limited critical resources
-Determining whether to
further process a product